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Article
Affiliation(s)

1. Department of Economics, Aristotle University of Thessaloniki, Thessaloniki 54124, Greece
2. Department of Industrial Management & Technology, University of Piraeus, Piraeus 18534, Greece
3. Department of Economics, National and Kapodistrian University of Athens, Athens 10559, Greece

ABSTRACT

Ownership/private property and property inheritance are concepts well-established and constitutionally protected in our modern societies. Nevertheless, numerous provisions in the national legal framework enable the states to expropriate individual private goods under certain severe circumstances through compensation prerequisites. The present manuscript presents a short comparative study of the constitutional articles of many countries, regarding expropriation actions, examines the compensation techniques employed, and interrelates expropriation implementation with economic analysis methods and experimental economics. Furthermore, this paper states that the current Greek expropriate methods consist of an economic disturbance and externality in economic terms.

KEYWORDS

Compulsory/forced expropriation, externalities, compensation, constitutional law, experimental economics, ownership, possession, economic analysis method.

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